Question

2. Why does the intercept on Yaxis does not change of price of the
good on X axis increases?​

Answer 1

Answer:

Explanation:

The normal convention is to put the independent variable on the X axis and the dependent variable on the Y axis. This convention calls for price to be plotted on the horizontal axis and quantity on the vertical axis. The axis reversal — now enshrined by nearly a century of usage — arose as follows. The analysis of the competitive market that we use today stems from Leon Walras, in whose theory quantity was the …